Search

Luxembourg - Following parliamentary approval by Slovakia, the amendments to the EFSF’s Framework Agreement have now been ratified by all 17 Member States. EFSF stands ready to implement its new scope of activity once it has received the amendment confirmations by all euro area Member States in writing. Klaus Regling, CEO of EFSF commented, “after the successful completion of all political approval procedures the EFSF and its Board will finalise quickly all necessary guidelines and procedures to be able to use the new instruments in the near future.”

Luxembourg - Following parliamentary approval by Slovakia, the amendments to the EFSF’s Framework Agreement have now been ratified by all 17 Member States. EFSF stands ready to implement its new scope of activity once it has received the amendment confirmations by all euro area Member States in writing. Klaus Regling, CEO of EFSF commented, “after the successful completion of all political approval procedures the EFSF and its Board will finalise quickly all necessary guidelines and procedures to be able to use the new instruments in the near future.”

Luxembourg – The European Financial Stability Facility (“EFSF”) has mandated BNP Paribas, Goldman Sachs International and Royal Bank of Scotland as joint lead managers for its expected €3 billion 5-year issue for Portugal due to be launched shortly, subject to market conditions. The three institutions were selected from the 46 banks that comprise the EFSF Market Group.

Luxembourg – European Financial Stability Facility (EFSF) today placed a €5 billion bond with a 10 year maturity to fund the EFSF’s first disbursement as part of the financial assistance package to Portugal.

Christophe Frankel, CFO and Deputy CEO, commented: “The size of the order book and the final pricing highlight the strong market demand for quality issuers such as EFSF. It also underlines EFSF’s ambition to ensure investors see performance from their investment.”

Luxembourg – The European Financial Stability Facility (“EFSF”) announces the appointment of Barclays Capital, Deutsche Bank and HSBC as joint lead managers for its second issue due to be launched later this month, subject to market conditions. The three institutions were selected from the 46 banks that comprise the EFSF Market Group.

Christophe Frankel, Deputy CEO and CFO of EFSF commented “the lead managers were appointed following a rigourous and transparent selection process held in collaboration with the German Debt Management office (Finanzagentur)”.

Luxemburg/Brussels - Following the formal request for financial assistance made on 7 April 2011 by the Portuguese authorities, the terms and conditions of the financial assistance package were agreed by the Eurogroup and the EU's Council of Economics and Finance Ministers on 17 May1. The financial package will cover Portugal’s financing needs of up to €78 billion.

Letter to Editor of Financial Times

Financial Times
Number One
Southwark Bridge
London
SE1 9HL

Sir,

Frankfurt am Main – European Financial Stability Facility (EFSF) today placed its inaugural bond for an amount of €5 billion as part of the EU/IMF financial support package agreed for Ireland. The issuance spread was fixed at mid-swap plus 6 basis points. This implies borrowing costs for EFSF of 2.89%. Investor interest was exceptionally strong, a record breaking order book of €44.5 billion from more than 500 investors. Investor demand came from around the world and from all types of institutions. Very strong demand came from Asia.

Luxembourg – All three major credit rating agencies have today assigned the best possible credit rating - Standard & Poor’s “AAA”, Moody’s “Aaa” and Fitch Ratings “AAA” - to the European Financial Stability Facility’s (EFSF) bond issuance programme.

On 17th January 2011, the European Financial Stability Facility (EFSF) announced that Citi, HSBC, and Société Générale are mandated as joint lead managers for its inaugural issue to be launched later this month subject to market conditions. The three institutions were chosen from the 44 banks that make up the EFSF Market Group. Klaus Regling, CEO of EFSF highlighted “the first EFSF issue is an important transaction for markets and for the euro zone.